TFS Capital LLC lowered its position in shares of Commscope Holding Company Inc (NASDAQ:COMM) by 31.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,702 shares of the communications equipment provider’s stock after selling 4,484 shares during the period. TFS Capital LLC’s holdings in Commscope Holding Company were worth $405,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Financial Architects Inc increased its position in shares of Commscope Holding Company by 61.1% in the first quarter. Financial Architects Inc now owns 3,281 shares of the communications equipment provider’s stock worth $137,000 after buying an additional 1,244 shares in the last quarter. CAPROCK Group Inc. acquired a new position in shares of Commscope Holding Company during the first quarter worth about $203,000. ProShare Advisors LLC acquired a new position in shares of Commscope Holding Company during the first quarter worth about $203,000. Comerica Bank acquired a new position in shares of Commscope Holding Company during the first quarter worth about $218,000. Finally, World Asset Management Inc increased its position in shares of Commscope Holding Company by 21.2% in the first quarter. World Asset Management Inc now owns 7,305 shares of the communications equipment provider’s stock worth $305,000 after buying an additional 1,278 shares in the last quarter.
Shares of Commscope Holding Company Inc (NASDAQ:COMM) traded up 0.03% during mid-day trading on Friday, hitting $37.00. The stock had a trading volume of 1,963,700 shares. Commscope Holding Company Inc has a 52-week low of $27.88 and a 52-week high of $42.75. The company’s 50 day moving average is $39.74 and its 200-day moving average is $37.81. The stock has a market cap of $7.14 billion, a P/E ratio of 29.91 and a beta of 1.28.
Commscope Holding Company (NASDAQ:COMM) last released its quarterly earnings data on Thursday, May 4th. The communications equipment provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. Commscope Holding Company had a net margin of 1.91% and a return on equity of 35.24%. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the company earned $0.48 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. On average, equities research analysts anticipate that Commscope Holding Company Inc will post $2.73 earnings per share for the current fiscal year.
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A number of brokerages recently issued reports on COMM. Zacks Investment Research downgraded Commscope Holding Company from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. Jefferies Group LLC restated a “buy” rating and set a $45.00 price target on shares of Commscope Holding Company in a report on Friday, March 31st. Deutsche Bank AG lifted their price objective on Commscope Holding Company from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, April 19th. Barclays PLC lifted their price objective on Commscope Holding Company from $42.00 to $47.00 and gave the company an “overweight” rating in a research report on Wednesday, April 12th. Finally, Credit Suisse Group AG lifted their price objective on Commscope Holding Company from $36.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, February 15th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Commscope Holding Company presently has a consensus rating of “Buy” and an average price target of $43.50.
In other Commscope Holding Company news, SVP Peter U. Karlsson sold 31,188 shares of Commscope Holding Company stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $40.04, for a total value of $1,248,767.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Frank B. Wyatt II sold 255,900 shares of Commscope Holding Company stock in a transaction on Tuesday, April 11th. The shares were sold at an average price of $40.63, for a total transaction of $10,397,217.00. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 20,000 shares of company stock valued at $736,170 and sold 424,458 shares valued at $17,177,761. 4.09% of the stock is currently owned by insiders.
About Commscope Holding Company
CommScope Holding Company, Inc (CommScope) is a provider of infrastructure solutions for the core, access and edge layers of communications networks. The Company operates through two segments: CommScope Connectivity Solutions (CCS) and CommScope Mobility Solutions (CMS). Its portfolio includes wireless and fiber optic solutions.
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